ECB paper develops new labour market model
A European Central Bank paper, published on Thursday, develops a new macro tool for monitoring and forecasting labour market developments in six euro area countries.
The paper's authors, Jan Bruha, Beatrice Pierluigi and Roberta Serafini, investigate how labour markets in France, Italy, Spain, Belgium, Germany and the Netherlands adjust to a reduction in wage growth.
The paper shows that labour market adjustments differ substantially across euro area countries and that a reduction in wage growth
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